Market participants told that the sag came over worries that a third-quarter market soar that had raised Brent to mid-2015 maximums by late September had been totally overdone.

Market experts told that market rebalancing is currently underway, and it means that demand isn’t undershooting available supply any longer.

The re-balancing appears to be an outcome of strong consumption. As for other causes one should mention efforts made by OPEC to reduce output by nearly 1.8 million barrels a day this year and the first quarter of 2018.